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Analyses

Pandemic of Covid 19, many properties have closed down

While the World Tourism Organisation announces a spectacular drop in tourist traffic in 2020, many European hotels have closed their doors for lack of customers.

The UNWTO announced a loss of 20 to 30% of international tourist arrivals in 2020, which will cut $300 to $450 billion from the $1.5 trillion in revenue generated by tourism in 2019. 

After having shared their stocks of perishable foodstuffs with NGOs, reduced to the maximum their activities for some with the closure of several floors, European hotel properties are closing their doors one after the other as announced by the leaders of the groups these past days

Under these exceptional circumstances, Hospitality ON and its partner OK-Destinations make the hotel performance statistics available for free access so that you can follow the news and keep updated in the best possible way.

Unsurprisingly, the curve of closures follows the curve of destinations' entry into confinement.  Italy being the first curve to drop off as of March 4, followed by France, Belgium and Spain as of March 14 and Germany and the Netherlands as of March 16. 

On 25 March, only 5% of hotels were open, 9% in Spain, 21% in Belgium and 23% in France.  In Germany, 57% of hotels were open on 25 March and 63% in the Netherlands.  The Netherlands as well as Germany, unlike their European neighbours, are only now gradually entering a phase of containment. 

In Barcelona, only 9% of properties remain open, 13% in Madrid. 18% of properties were open in Brussels, 42% in Amsterdam (unconfined destination), 58% in Berlin and 60% in Munich (no official containment in Germany either, despite severe restrictions).

In France, makor cities closed more than 2/3 of their supply.

Methodological note, the statistics reported are based on the properties participating in the OlaKala_destination database, which includes more than 11,000 properties worldwide.  The European sample represents 383,654 keys in the 8 countries observed for this analysis. 

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